South Korea’s major builder turns to asset collateral amid soaring debts



Briefings South Korea’s major builder turns to asset collateral amid soaring debts Faced with debt, Taeyoung Engineering & Construction Company stakes SBS and TY Holdings shares to win creditor trust KOREA PROJanuary 10, 2024 SHARE COPY LINK FACEBOOK X LINKEDIN MASTODON Finance minister Choi Sang-mok holds a joint briefing with related ministries, Jan. 4, 2024 \| Image: ROK Ministry of Economy and Finance Taeyoung Engineering & Construction (E&C) Company, South Korea’s 16th largest builder has introduced a new self-rescue plan. The company filed for a debt restructuring program on Dec. 28. The company’s founder, Yoon Se-young, announced on Tuesday the measure in a televised press conference, highlighting the intent to offer Taeyoung Group’s shares of terrestrial TV network SBS and TY Holdings as collateral. This move is part of Taeyoung’s broader strategy to gain entry into a debt restructuring program, addressing the liquidity crisis spurred by real estate project financing loans. Korea Development Bank, Taeyoung’s main creditor, has been cautiously optimisticin © Korea Risk Group. All rights reserved. No part of this content may be reproduced, distributed, or used for commercial purposes without prior written permission from Korea Risk Group. LATEST ANALYSIS 01Trump’s Korea investment victory lap masks safeguards Seoul still controls 02North Korean POW dispute tests Seoul-Kyiv trust and future Ukraine policy 03South Korea’s CPTPP push exposes the cost of turning trade gains into consensus 04AI storage boom gives South Korea battery makers an EV overcapacity lifeline 05South Korea’s Mexico strategy runs into the hard limits of USMCA politics 06Preschool test ban forces South Korea’s English hagwons to rethink placement 07Lee Jae Myung’s Wall Street pitch tests South Korea’s capital market credibility 08US midterm clock raises stakes for South Korea’s $200 billion investment talks

Briefings

South Korea’s major builder turns to asset collateral amid soaring debts

Faced with debt, Taeyoung Engineering & Construction Company stakes SBS and TY Holdings shares to win creditor trust

KOREA PROJanuary 10, 2024

South Korea’s major builder turns to asset collateral amid soaring debts

Finance minister Choi Sang-mok holds a joint briefing with related ministries, Jan. 4, 2024 | Image: ROK Ministry of Economy and Finance

Taeyoung Engineering & Construction (E&C) Company, South Korea’s 16th largest builder has introduced a new self-rescue plan. The company filed for a debt restructuring program on Dec. 28. The company’s founder, Yoon Se-young, announced on Tuesday the measure in a televised press conference, highlighting the intent to offer Taeyoung Group’s shares of terrestrial TV network SBS and TY Holdings as collateral. This move is part of Taeyoung’s broader strategy to gain entry into a debt restructuring program, addressing the liquidity crisis spurred by real estate project financing loans.

Korea Development Bank, Taeyoung’s main creditor, has been cautiously optimisticin

South Korea’s major builder turns to asset collateral amid soaring debts

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